Pre-Approved Mortgages Are A Great Idea for Buyers.

With today's technology it is possible for a potential homebuyer to have an approved loan in less than 24 hours. Why is this an important advancement?

  1. By knowing what you really qualify for, you can easily determine what your total monthly payments will be. Monthly payments consist of principal, interest, taxes, and insurance. These can be calculated based on the interest rates the day you qualify for the loan. You can "rate protect" at some mortgage companies against rising interest rates, and most of the time at no additional cost.
  2. An approved loan, subject to appraisal, survey, and termite inspection, is a great negotiating tool. Sellers dread this scenario: a contract is negotiated, the home has been taken off the market, the sellers have made plans to move and perhaps even committed to a new home themselves, and the mortgage company turns down the buyer's loan three weeks later. Put yourself in a seller's shoes. Wouldn't you be much more inclined to accept an offer from a pre-approved buyer, than to take a chance on the unknown?
  3. In the case of multiple offers, it is our experience that the cash buyer wins. In effect, when you have a pre-approved loan, you are the cash buyer.
  4. It is very likely you can be in your new home much quicker. With a pre-approved loan, the appraisal and survey are the major items still required. If they can be done quickly, you could be moved in within two weeks of finalizing your contracts. This can mean a lot to a family living out of suitcases and in small quarters, right?

It is our recommendation that you obtain a pre-approved loan before making an offer on a property.

Click here to see what the lender will need for the loan application.

Vanderbilt Mortgage

Temple View Capital



Cadence Bank

Flagstar Bank


Ameris Bank

First Citizens Bank


First National Bank of America

US Bank


Fifth Third Bank


Eglin Federal Credit Union

Hancock Whitney



Renasant Bank

M&T Bank


Sun West Mortgage Company

Navy Federal Credit Union

First Horizon

Rocket Mortgage

CCB Community Bank


PNB Community Bank

Centennial Bank

Freedom Mortgage

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